The Product Strategy Cycle

Roman Pichler

Traditionally, strategy and execution are often viewed as separate, sequential pieces of work that are carried out by different people. For example, a product manager might determine the product strategy and one or more development teams might be tasked with executing it.

Product Strategy and Skill Development: Learnings from the #mtpcon Session Speakers

Mind the Product

In this first, Breakout Session release from #mtpcon Digital 2020, you can delve into four of the event’s deep-dive sessions focusing on product strategy and skill development.

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Good Strategy, Bad Strategy

Product Bookshelf

Good Strategy Bad Strategy: The Difference and Why It Matters by Richard Rumelt. The big idea: Strategy is not goal-setting, vision creation, or agreeing on principles and aspirations. With a good strategy, you can overcome the critical issues your product faces.

Empowering Development Teams

Roman Pichler

Empowering development teams starts with taking a sincere interest in the individuals, attentively listening to their ideas and concerns, and empathising with them. In the worst case, empowerment is seen as a trick to make development teams do more work and blame them if things don’t go to plan. A good example are sprint goals : A sprint goal captures the desired outcome of a sprint and is agreed by product owner and development team. Show People that You Care.

Testing at Every Stage of Development

Up to 80% of new products fail. The reality is harsh and the reasons why are endless. Perhaps the new product couldn’t oust a customer favorite. Maybe it looked great but was too hard to use. Or, despite being a superior product, the go-to-market strategy failed. There’s always a risk when building a new product, but you can hedge your bets by understanding exactly what your customers' expectations truly are at every step of the development process.

Atomic Product Strategy, By Rob Hayes

Mind the Product

Every team needs a product strategy. The Business Model Canvas, Bootstrap or Atomic Design – it seems like everyone from MBAs to developers to designers seems to have a framework to structure their strategy, except for product managers.

The Art of Developing Your Launch Strategy

Actuation Consulting

No matter how awesome your product, without a well-conceived launch strategy, it will likely sputter off the launch pad. What Is a Launch Strategy? Your product launch strategy delineates the approach you plan to take in getting your product to market. You can start ruminating over what to include in your launch strategy as early as the conception phase. However, what you initially plan must evolve as a more details emerge in the later stages of product development.

Establishing an Effective Product Strategy Process

Roman Pichler

Why a Product Strategy Process Matters. An effective product strategy process should ensure that a valid product strategy and an actionable product roadmap are always available—that a shared and valid approach to achieving product success is available at anytime, as the picture below illustrates. In the picture above, the product strategy describes how a visionary, inspirational goal is attained. As helpful as it is to create a product strategy, it is not enough.

Tips for Effective Product Strategy Reviews

Roman Pichler

Hold Regular Product Strategy Reviews. A product strategy , like any other plan, is subject to change. How changeable your strategy is, depends on your product’s life cycle stage. As long as your product hasn’t reached product-market fit, the strategy is usually volatile. Contrast this with a mature product , which tends to have a more stable product strategy. Make sure that you block the necessary time for product strategy reviews in your calendar.

Web or app Development – Which is Better?

Mind the Product

One technology to mention in this context is the open source framework React Native, which allows you to take a cross-platform approach and develop apps for both Android and iOS using a single framework. There is no single right choice for a product’s channel strategy. For most businesses in the US and Europe, some web presence is mandatory, so some variation of hybrid development is probably a cost-effective solution.

The Connected Journey: Developing your Empathy to Strengthen Strategies for Customer Relations

Speaker: Esther Kieft, Delivery Manager (Group Technology) at Domino's Pizza Enterprises

It is well known that empathy is a key ingredient in creating lovable products, yet not all products offer the best customer experience. From meeting stringent deadlines to insufficient resources being available to carry out customer research, there is a range of reasons why customer empathy could be missing in product development. Join Esther Kieft, as she breaks down using empathy at a distance to evaluate the problems that customers are experiencing during this global health crisis.

Developing Product Management Confidence

bpma ProductHub

But how do you develop the confidence required to lead a team of stakeholders to a positive outcome? Product Management Product Marketing Product StrategyContributed by Saikrishna Chavali and Jeff Segarra – Noted professor of business at Harvard Business School, Rosabeth Moss Kanter states that, “Confidence isn’t optimism or pessimism, and it’s not a character attribute. It’s the expectation of a positive outcome”.

Why Product People Should Care About Business Strategy

Roman Pichler

Business Strategy vs. Product Strategy. A business strategy describes how a company wants to achieve its overall aspiration and create value for its users, employees, and shareholders. It’s distinct from the product strategy : The business strategy states how the company will be successful, whereas the product strategy describes how a product will achieve success, as the following picture illustrates. Elements of an Effective Business Strategy.

How to Use Customer Value Chains in Your Product Development Strategy

Amplitude

You might claim to have a customer-first approach to your product development strategy—but is that actually the case? So how does this impact product development? A winning product development strategy is tightly connected to understanding the customer value chain.

Optimal Product Process™ 3.0 Phase Three: Develop

280 Group

This post describes the third phase in the Optimal Product Process: Develop. Using a great plan (whether an Agile backlog with sprint priorities assigned or a more formal plan) the agreed upon product is then developed. Unlocking the secrets of the product development trade-off triangle. Product development features a well-known concept called the development trade-off triangle. Update your strategy and plans accordingly.

How to Package and Price Embedded Analytics

struggle to integrate analytics into their products, business models, and pricing strategies in a way that meets a range of user. Customizing embedded analytics in this way means thinking about packaging and pricing early in product development cycles.

How to Create a Product Strategy Without a Clear Company Strategy

Mind the Product

Having “no company strategy” is one of the biggest issues facing product managers, according to a recent survey of over 600 product people. We were successful in “selling” our vision and strategy, and were allocated funds to deliver it. The post How to Create a Product Strategy Without a Clear Company Strategy appeared first on Mind the Product.

Seven Ways Northwestern Mutual Prioritizes Transparency When Developing Fintech Products

The Product Coalition

ux product-management fintech product-development product-strategyAccording to Laine Henry, UX Lead at Northwestern Mutual Continue reading on Product Coalition ».

One Critical Part of Product Management That Got Lost in Agile Development

Proficientz

Agile is a software development methodology. Agile development is a methodology for building software, and it’s a good one! Smaller teams cranking out measurable units of software every 2-4 weeks and iterating toward usable features has done wonders for software development.

4 Development Pitfalls to Avoid with an Agile Growth Strategy

Mixpanel on Data

Throughout his career, Al has focused on helping companies develop and execute digital strategies to grow their business and stay ahead of the curve. Developing a mobile product is a daunting task. But making this investment early in the process will provide a solid framework to sustain and scale your growth strategy into the future. Here are just a few of the issues you can bypass when you implement growth strategies from the beginning: 1.

Selling Data and Decisions to your Team

Speaker: Cait Porte, SVP Product and Customer Experience, Zmags

Gathering support for a product feature or enhancement is a critical skill for Product Managers. Talking to customers, working with key stakeholders in the business and convincing development that a feature is necessary can be a daunting task. Join Product Management expert Cait Porte as she covers how to sell your ideas internally by leveraging data to drive decision making.

Defining Brand Strategy and How to Develop One

UX Studio

Creating and maintaining a brand strategy can turn into a never-ending struggle, but it can also provide a great deal of fun. In this post we created a guide on the steps to take in developing your brand strategy. But first, let’s define brand strategy! Brand strategy defined. By definition, brand strategy makes up a long-term plan which helps every employee communicate about your brand. How to develop your brand strategy?

Developing A Product Vision and Strategy

Actuation Consulting

Today we will look at two of the most important: the Product Vision and Product Strategy documents. The Role of the Product Strategy Document. Your Product Strategy document explains what high-level actions will need to take place in order for your product to live up to the anticipated deliverables in the Product Vision document. Just as important, the Product Strategy document sets boundaries for activities that should not be pursued.

Q&A with Extensis VP of Development & Strategy, Toby Martin

Revulytics

Toby Martin is VP, Development and Strategy at Extensis , a developer of software and services for creative professionals and B2B workgroups. As we shifted towards agile methodologies, we required a more quantitative way to echo the customer’s voice in development. We rolled out Revulytics software usage analytics across three development teams simultaneously, and they all had it embedded by their next releases.

The most important question to ask when developing your Product strategy

BrainMates

Your Product strategy is the most important long-term document you ever create for a Product. But before you can craft your Product strategy you need to know — what’s going on? What’s going on with your existing customers should be the first area you focus on in the strategy development process. What’s the business strategy? It’s one of the areas that Product leaders should monitor on a regular basis to assess how this will impact their Product strategy.

The Top 5 Most Common Rapid Prototyping Mistakes

Speaker: Teresa Torres, Product Discovery Coach, Product Talk

But as with most discovery skills, prototyping is a skill that needs to be developed. In this webinar, we'll discuss: Strategies for drastically cutting down prototyping time. When you think of "rapid prototyping", what comes to mind?

Developing a Test Strategy for the Agile World

Centercode

Test strategy is critical to the success of any testing effort – but where do you start? How does your strategy conform to different development methodologies? In our interview with Adam Satterfield , director of Testing and Quality at Anthem, we dive deeper into these questions and the importance of test strategy on the whole. At a high level, how do you define test strategy and why is it important? Discover More About Test Strategy at STAREAST.

One Critical Part of Product Management That Got Lost in Agile Development

Proficientz

Agile is a software development methodology. Agile development is a methodology for building software, and it’s a good one! Smaller teams cranking out measurable units of software every 2-4 weeks and iterating toward usable features has done wonders for software development.

How to Develop Your Product Career, Using the Product Quadrants

The Product Coalition

It’s understandable that most of us don’t make time for personal development. Who wants to spend time after a hard day of work learning and developing when they could be kicking back with a beer and watching The Crown? I’m going to call this my ‘development’ quadrant.

Escape From the Feature Roadmap to Outcome-driven Development

Mind the Product

The default behaviour of a team with this kind of roadmap is to complete one feature and then start developing the next one, even if the context (strategy, user needs, competition) has changed. You Don’t Have a Clear Company Strategy. Firstly, and most importantly, this approach will definitely fail if you don’t have a clear company strategy. The post Escape From the Feature Roadmap to Outcome-driven Development appeared first on Mind the Product.

4 Steps to Developing Your Customer Care Strategy

The quality of a customer care strategy can make or break a company, but simply resolving a customer service issue or complaint is no longer enough. Learn the 4 steps that address the major points you need to consider when building a customer care roadmap.

Chapter 12/17?—?How to Develop Product Roadmap?

The Product Coalition

How to Develop Product Roadmap? They all start with a focused strategy. A good product strategy helps the team stay focused, guide the product development and manage the business during the development process. How to Develop Product Roadmap? Chapter 12/17?—?How

Trailblazing Women in Product Management: Quisha Light, Manager, Product Development and Lifecycle Management at Portland General Electric

280 Group

For our next installment of the Trailblazing Women in Product Management series, I interviewed Quisha Light, Manager, Product Development and Lifecycle Management at Portland General Electric (PGE). As a result, I was offered the opportunity to lead the product development team.

A Practical Guide for Product Strategy From Almundo: A Case Study:

Mind the Product

Our goal was to define how we would set and communicate the company strategy, and how that strategy would lead OKRs and backlog definition. Product (and company) strategy is the backbone that guides product goal-setting and roadmap definition, although it’s sometimes overlooked or confused with having a vision. We started working with the product teams on how each tool – product strategy, OKRs, and roadmaps – should be used so that we could merge them together.

How we Developed a Talent Growth Plan at Almundo

Mind the Product

So, it was natural that we should want to develop a talent growth plan for our people. All of them are accountable for a squad (about five developers and one user experience professional). The results showed that they wanted better (and more frequent) feedback on how to further develop their product management skills. Mixing the words, key responsibilities across companies started to emerge: Define product vision and strategy. Team execution and development.

Connecting Analytics to Strategy - Keeping Your Corporate Objective In Sight

Speaker: Tom Evans, Senior Principal Consultant and Trainer, 280 Group

Data analytics has transformed the way many product managers approach product enhancements, creating strong demand for product managers with skills and expertise in defining and analyzing product metrics to make more valuable product decisions. But there is one essential element that is often left out of the conversation, and that is strategy. How does my product decisions support the overall strategy of the business, and am I tracking the right metrics based upon that strategy?

TEI 309: Product management strategy – with Allan Anderson, PhD

Product Innovation Educators

I started a new series to explore the Product Development and Management Body of Knowledge. Today we are discussing strategy. This is the foundation for product managers as organizational strategy impacts product strategy. Today, we focus on strategy.

What is Good Product Strategy?

Melissa Perri

“What is your Product Strategy? YOU NEED A STRATEGY.” This didn’t sit well with the CTO because in reality he didn’t want a strategy, he wanted a plan. This is the way we were taught to think about Product Strategy. Most companies fall into the trap of thinking about Product Strategy as a plan to build certain features and capabilities. This isn’t a strategy, this is a plan. Product Strategy emerges from experimentation towards a goal.

Make Your Product Stand Out with the Strategy Canvas

Roman Pichler

The Strategy Canvas. The Strategy Canvas was developed by Kim and Mauborgne, the authors of Blue Ocean Theory. It was originally intended as a business strategy tool to discover new markets. The Strategy Canvas above ranks the first iPhone against its rivals, including the Nokia N95 and the BlackBerry Curve. The vertical axis of the Strategy Canvas describes the offering level, the degree to which the competitors offer the factors. Product Strategy

The most important question to ask when developing your Product strategy

BrainMates

Your Product strategy is the most important long-term document you ever create for a Product. But before you can craft your Product strategy you need to know — what’s going on? What’s going on with your existing customers should be the first area you focus on in the strategy development process. What’s the business strategy? It’s one of the areas that Product leaders should monitor on a regular basis to assess how this will impact their Product strategy.

Innovating and Driving Agility with Tech: No-Code Development

Speaker: Gautam Nimmagadda, CEO, Quixy

Product Managers: are you wondering what your teams will look like in the future? If so, it's time to look to no-code development. With it, you can leverage hyper automation, strengthen and accelerate growth, and drive value. Your teams will be able handle more projects, and focus on the real challenges. This webinar harnesses the wisdom of today's business leaders and the global pioneers of tomorrow. Join Gautam Nimmagadda, CEO of Quixy, and learn how to leverage tech to drive agility with citizen development and the no-code movement.